Answer:
$300,000
Explanation:
Given:
Original cost = $250,000
Fair Value = $300,000
Find:
Land would be record
Computation:
If a revenue company accepts some fixed asset as a gift, as per the Internal Revenue Service and GAAP, then the property should be reported at Market Value.
The market value is $300,000 in this situation, so the property must be recorded at $300,000.